Brian Wesbury celebrates the wonder of America and our role in the history of the world. A great read. See it here.
"This Nation was born when a band of men, the Founding Fathers, a group so unique we've never seen their like since, rose to such selfless heights. Lawyers, tradesmen, merchants, farmers – 56 men achieved security and standing in life but valued freedom more. They pledged their lives, their fortunes, and their sacred honor. Sixteen of them gave their lives. Most gave their fortunes. All preserved their sacred honor.” Ronald Reagan
Bank failures are in the news. Unlike the financial crisis of 2008-2009, these banking problems more closely resemble the Savings & Loan failures of the late 1970s. I have attached a link to one of the best commentaries I have read regarding the current bank problems. Brian Wesbury, Chief Economist at First Trust, explains why these primarily regional banks are in a difficult situation and what we can anticipate going forward. Read his commentary here.
Chegg Inc. is an education company that provides learners with assistance in their chosen field of study. The company announced today that their revenues are significantly down due to students moving to Artificial Intelligence options such as ChatGPT. Their stock dropped 49% in one day. Read the article here.